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We all have made plans for retirement. We may have engaged a bona fide financial planner, estate attorney, or an investment manager. Or maybe we just take great pride in doing all ourselves. No matter how it’s accomplished, we do it all in the shadow of an 800 pound gorilla. It is a big shadow! “What is that shadow?”, you ask. It is the anticipated cost of extended care another 20-30 years from now, when most of the baby boomers are likely to need care and won’t have the money to pay for it.

At that time in our lives, a $500,000 to $800,000 bill for care for an individual will not be out of the question. It happens even today, depending on the length of care required.

An 800 pound gorilla. Only a select few will be able to pay that from income. More than likely a family’s assets will have to be liquidated to cover that amount. And not many families will have accumulated that level of wealth, and still have money left over for commitments already made, support of the healthy at home spouse, and any other plans made for the use of family assets.

An 800 pound gorilla. I’ve seen the numbers. Estates that anyone would be proud of can quickly disappear in a short number of years. Hearts and promises will be broken, families will be torn apart from fatigue, from anger, from things far beyond their control.

If only a little planning, a little understanding of the risks, and little acknowledgment that unexpected things do happen in this life. With a good plan, from the right company and an agent who is willing to help you wrestle with the issues, this 800 pound gorilla CAN be tamed. Are you willing? For the love of your family, I hope so.